About Progress Software Development Private Limited
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Progress Software Development Private Limited is a private limited company based in Hyderabad, Telangana, India, a subsidiary of Progress Software Corporation. It operates in the application development and software solutions segment of the technology and IT services sector. It was incorporated on 09 February 2005 and has been in existence for over 21 years.
The company is registered with the Registrar of Companies (ROC), Hyderabad, under CIN U74200TG2005PTC045304. Its GSTIN is 36AADCP4833A1ZS (Telangana). The company holds 4 GST registrations, of which 2 are active.
The company has an authorised share capital of ₹5 Lakh and a paid-up capital of ₹5 Lakh. It is led by directors including Chandra Sekhar Cheruku and Domenic Lococo.
Its last annual general meeting (AGM) was held on 07 October 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Hyderabad, Telangana.
As per the financials filed for FY 2025, the company reported a revenue of ₹310.76 Cr, a growth of 31% compared to the previous year. For the same year it recorded a net profit of ₹38.01 Cr (net margin 12.2%) and EBITDA of ₹60.3 Cr (EBITDA margin 19.4%). Revenue has grown at a compounded annual rate (CAGR) of 28% over three years and 30% over five years.
The company has about 424 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Progress. Court records list 1 case involving the company, including 1 filed against it. The company has 1 deal on record (1 secondary share transfer); the latest was in July 2007. Its 6 peer companies in the Information Technology industry (Application Development), with the same principal business activity (computer programming, consultancy and related activities) are compared by revenue, 4 larger and 2 smaller; the largest is Ion Trading India Private Limited with revenue of ₹315.34 Cr. The company has 1 MSME Form 1 return on record for the period ending Sep 2021, listing 3 overdue payments to 1 micro and small supplier.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website progress.com.
Company details
CIN history
Progress Software Development has one previous CIN (Corporate Identification Number): U74200AP2005PTC045304. The current CIN is U74200TG2005PTC045304, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U74200TG2005PTC045304 | Current |
| U74200AP2005PTC045304 | Previous |
Contact details
Progress Software Development Private Limited's registered office is in Hyderabad, Telangana. Its website is progress.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressUnit 1101 A Wing Galaxy Sy.No.83/1 Hyd Knowledge City Tsiic Raidurg Village Serilingampa, Lly Mandal, Hyderabad, Telangana, India – 500081
- IndustryInformation Technology, Application Development & Software Solutions
To see the full contact details of Progress Software Development Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Progress Software Development operates one associated brand: Progress. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| IDE-based software is provided for application development and management. | progress.com |
Business activity
The main business activity of Progress Software Development is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Progress Software Development Private Limited, buy the company report.
Financials of Progress Software Development Private Limited
FY 2025 filings availableProgress Software Development Private Limited reported revenue of ₹310.76 Cr (up 31% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 30% over five years, including 31% growth in the latest year. EBITDA rose 27% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹60.3 Cr | ||||
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| Net Profit (PAT) | ₹38.01 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 19.4% | ||||
| Net Profit Margin | 12.2% | ||||
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To see the full financial statements and ratios of Progress Software Development Private Limited, buy the company report.
Board of directors of Progress Software Development Private Limited
Progress Software Development has 3 current directors and 11 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Chandra Sekhar Cheruku Also directs: Progress Software Solutions India Private Limited | Director | 30 Nov 2022 | 3 Years 10 Months | Current |
| Domenic Lococo | Director | 29 Jun 2022 | 4 Years 3 Months | Current |
| Anthony Alfred Folger Also directs: Progress Software Solutions India Private Limited | Director | 11 Oct 2022 | 4 Years 0 Months | Current |
Peer comparison
Progress Software Development Private Limited is compared with the 6 companies closest to it by revenue in the Information Technology industry (Application Development), with the same principal business activity (computer programming, consultancy and related activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Ion Trading India Private Limited | ₹315.34 Cr (FY 2023) | 34.0% | New Delhi, Delhi, India | |||
| Mediatek India Technology Private Limited | ₹314.62 Cr (FY 2025) | 14.0% | Delhi, India | |||
| Infocepts Technologies Private Limited | ₹313.35 Cr (FY 2025) | -7.0% | Nagpur, Maharashtra, India | |||
| Sas Research and Development (India) Private Limited | ₹312.06 Cr (FY 2025) | 11.0% | Pune, Maharashtra, India | |||
| Progress Software Development Private Limitedthis company | ₹310.76 Cr (FY 2025) | ₹38.01 Cr | 12.2% | 31.0% | 424 | Hyderabad, Telangana, India |
| Metacube Software Private Limited | ₹306.46 Cr (FY 2025) | 7.0% | Jaipur, Rajasthan, India | |||
| Nec Technologies India Private Limited | ₹304.2 Cr (FY 2017) | -1.0% | New Delhi, Delhi, India |
To see the full peer comparison of Progress Software Development Private Limited, buy the company report.
Auditor
Progress Software Development Private Limited is audited by DELOITTE HASKINS & SELLS for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DELOITTE HASKINS & SELLS | FY 2023 | 008072S |
Shareholding
The shareholding of Progress Software Development Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Progress Software Development Private Limited, buy the company report.
Deals & funding
Progress Software Development Private Limited has 1 deal on record (1 secondary share transfer); the latest was in July 2007.
Deals on record (1 of 1)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2007 | Secondary share transfer | Undisclosed | Buyer: Progress Software Corporation, Sonic Software Corporation Seller: 2 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Progress Software Development Private Limited has 1 court case on record: 1 filed against it. All case is disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1 | 1 | 0 |
Cases on record (1 of 1)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TELANGANA | Court case (ITTA) | Filed against the company by The Commissioner of Income Tax | Disposed |
To see the full case history of Progress Software Development Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Progress Software Development Private Limited has 1 MSME Form 1 return on record for the period ending Sep 2021, listing 3 overdue payments to 1 micro and small supplier. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (1 of 1)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| JCSS Consulting Private Limited |
To see the full MSME payment records of Progress Software Development Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Progress Software Development Private Limited has a workforce of 424 employees on its EPFO records as of Mar 27, 2024, across 1 active EPFO establishment.
GST
Progress Software Development has 4 GST registrations: 2 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 36AADCP4833A1ZS | Telangana | Active | 01 Jul 2017 |
| 29AADCP4833A1ZN | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Progress Software Development Private Limited, buy the company report.
Recent activity
Progress Software Development Private Limited has 14 board changes on record since 2011: 3 appointments and 11 cessations. The latest: Anthony Alfred Folger ceased to be Additional Director on 30 Nov 2022.
5 earlier events are in the company report.
News
Frequently asked questions
Progress Software Development is an active private limited company based in Hyderabad, Telangana, India. The company works in application development and software solutions, within the information technology industry. It was incorporated on 09 February 2005 (21+ years old) and is registered under CIN U74200TG2005PTC045304.
Progress Software Development has 3 current directors:
- Chandra Sekhar Cheruku - Director
- Domenic Lococo - Director
- Anthony Alfred Folger - Director
The latest financial statements of Progress Software Development on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 07 October 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Progress Software Development is 36AADCP4833A1ZS, registered in Telangana. The company has 4 GST registrations in all, of which 2 are active and 2 are cancelled or inactive. Other active GSTINs include 29AADCP4833A1ZN (Karnataka).
The CIN (Corporate Identification Number) of Progress Software Development is U74200TG2005PTC045304. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Progress Software Development has 1 court case on record: 1 filed against it.
Progress Software Development was incorporated on 09 February 2005, making it 21+ years old. It is registered with the Registrar of Companies, Hyderabad.
Progress Software Development has 1 deal on record (1 secondary share transfer); the latest was in July 2007.
The peers of Progress Software Development by revenue are Ion Trading India Private Limited, Mediatek India Technology Private Limited, Infocepts Technologies Private Limited, Sas Research and Development (India) Private Limited, Metacube Software Private Limited and 1 more, all in the Information Technology industry (Application Development), with the same principal business activity (computer programming, consultancy and related activities).
Anthony Alfred Folger ceased to be Additional Director on 30 Nov 2022. Chandra Sekhar Cheruku was appointed as Director on 30 Nov 2022. Prasanna Laxmi Reddy Anireddy ceased to be Director on 12 Oct 2022. Progress Software Development has 14 board changes on record in total.
Progress Software Development has 1 MSME Form 1 return on record for the period ending Sep 2021, listing 3 overdue payments to 1 micro and small supplier. The latest return was filed on 30 Oct 2021.
Progress Software Development can be reached through the website progress.com. Its registered office is in Hyderabad, Telangana, India.